Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: BeachBum who wrote (74497)	9/25/2000 2:20:37 AM
From: BeachBum	Read Replies (2) of 95453

FWIW... Don't remember the source pretty sure it was an oil ANAList. Two OPEC meetings ago ( actually before the decision was made to increase production the 1st time ) the analyst stated that at that time OPEC had 4mil brl of excess production left , but due to the fact that during the $11 brl days they didn't maintain their equipment they had shut down they could only maintain 4mil a short period of time ( a couple of months max ) but could maintain 2mil indefinitely. Think the 1st increase was 650k and last was 800k ( always a question as to whether they count already existing cheating ) . That would leave 2.55mil of production excess left of which 550k could run constant. Wonder if the Saudis are fixing the equipment. Probably has sand in it <G> One thing for sure , it seems OPEC is going to err on the conservative side when it comes to raising production ( once bitten twice shy ) As far as RIG moving to Caribbean, believe that was for tax purposes. the Koran written in HIS OWN* blood* is the evil one going soft. I'd have to see a DNA test to believe it. One thing for sure " it ain't going to be boring between now and election day ". P.S. Stevedhu, you do live in Houston ? Funny guy asking me about Missouri City and misspelling Galvi(e)ston. BB ^-^-

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